*this article was previously published in the April 2018 Midland Express
Kyneton’s property market has continued to bust its own benchmarks with the latest Real Estate Institute of Victoria’s (REIV) data showing a swift increase in median sale prices. The median midpoint sale price of residential properties sold in Kyneton and surrounds hit $495,000 for the last quarter of 2017, compared to other regional Victorian towns which peaked at $397,000.
If you thought Spring was the most popular season to buy and sell a property, you might need to think again.
What is most surprising from this new data is the spike in sales during autumn months. The solid demand and restricted supply has seen the post-holiday period of April and May surge from 2016 – 2017.
And why is that? Autumn proves to be an active time for buyers who get a boost from New Year’s resolutions and the settling back into reality.
A combination of stable low-interest rates across the years and the push from metropolitan to regional towns has seen buyers keen to beat out the demand.
The ambient temperatures and transitioning colours of the autumn fall provide a unique opportunity to create for buyers to showcase their beautiful garden or property which can add considerable appeal to your property during a sale (and otherwise, too).
The reality is that buyers are remaining active year round to get ahead of the pack. Matters such as Easter, daylight savings and the commencement of the football season are no longer impediments for sales. And the REIV data shows just that.
Looking to sell your home this autumn? For more on how you can prepare your home for sale, head to jenniferpearce.com.au
As we approach winter, we know that this season is traditionally considered not the ideal time to sell.
But we also know that many buyers are active throughout the year which means that savvy vendors, along with the assistance of a knowledgeable agent, can make this work to their advantage
So if you are about to put your home on the market, here are something to keep in mind.
Conjure a cosy atmosphere
Spring may be popular because of a blooming garden and warmer weather however winter can bring other appealing aspects often overlooks. Presenting a property as warm and inviting is especially important when the sky is grey and the weather cold. If you aim to make your home an escape from the winter cold by ensuring it is well lit with warm, glowing light. Take advantage of daytime inspections maximum sunlight and turn the heating up. Make sure the temperature throughout the house is comfortable during inspections. The right decor is also important. Consider warm colours and textures or small touches like a throw rug on the couch create the right atmosphere. And if you have a working fireplace, light it up!
Stand out from the crowd
The biggest benefit to selling in winter that many people don’t recognise is that there’s less competition for both sellers and buyers. For sellers, there are fewer properties on the market to compete with. While the buyers who are looking in a smaller pool are generally serious contenders. With the continued growth of Kyneton and supply vs. demand market means that many buyers who have missed out elsewhere are still out hunting for a home. Here is your chance to take advantage of this with the help of a savvy agent and a faultless presentation.
A little more advice on presentation
The little things matter. Do pay attention to the frontage of your home. Rain shows up dirt on windows, wind makes a mess of your garden and pathways and soggy puddles equals mud. Before each inspection, give the windows a clean, clear the path or front step of any debris and rake up any dead leaves before each inspection. Even though it is winter, these things really can make the difference between a sale or not.
For perceptive vendors who play their cards right, winter can be a fantastic time to sell property.
*Article first published in Midland Express, 6 June 2017
The traditional wisdom is that the warmer months are the perfect time to sell your home. And it is true; the seasons do impact on buying and selling. However in recent times this has changed due to the continued supply versus demand position across most of Australia
On the whole, real estate does tend to “slow down” during winter. And this slow down means less competition from other properties, so the seller gets more of the buyers to themselves.
This can also provide an opportunity for those that have struggled to sell their home in a competitive market place. In towns like Kyneton and its surrounds where the demand for properties is consistent, winter could be the right time for those ready to sell.
Winter can also reveal so much about a property. Spring and summer are generally forgiving months but come wintertime it is a fantastic opportunity to showcase an open fireplace or sophisticated heating system to potential buyers. Making your house an escape from the chill is rewarding for buyers who can see beyond the potted plant façade out front and understand what living in the home would be like in the colder months.
Some buyers are also in hibernation period over winter, which allows those discerning shoppers to jump ahead of the pack before spring returns. Treating these buyers just as you would a buyer during the warmer months is a savvy way for vendors to sell their homes during winter months.